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Pre Market Game Plan by AJ – 1/24/17

1) $FOLD  Baird Raises this to an OutPerform and PT from $7 to $10 (5.34)  SWING IDEA
Stock gapping up +$.50 I would prefer this to pop thru $6 then followed by a decent gap fill pullback to $5.50 or lower then scale in LONG for an all day slow move to $6.50 to possibly $6.95 on it today

2) $TGTX  Has been granted Orphan Drug (4.25)  SHORT IDEA  
Stock gapping up +.40 Any crazy pop at open look to lean into this SHORT and look for an all day fade on it back to $4.30 or under

3) $GPRO  Pacific Crest Raises Estimates  BUT keep the PT btwn $9-$10 (9.40)  SHORT IDEA
Stock gapping up +.47 Any pop at open look to scale in and SHORT this gap up. Given that PC has maintained the $9PT tells me that this gap fill be filled right back slowly to $9.50 or under.

4) $WATT  Oppenheimer Tags a Perform rating from Outperform and Tags a $15PT from $17 (17.71)  SHORT IDEA
Stock gapping down -$1.10 Nice SHORT at $17.10 add on any pops outta of the gap above that, Higher it pops better the fade this call should get the stock to fade all day to $15.50 or lower, IF this pulls hard at open to $16 or just a tad under go LONG and play a nice 1pt short covering bounce before leaning back into it SHORT

5) ************$DATA  MY Favorite***** Citi Tags a BUY rating and Tags a $64PT from $50 (44.71)  SWING IDEA
Stock gapping up +$1.75 I love this call from Citi, so now we have to wait for the standard pop outta of the gate then look for the gap to be filled to $45 or under on this call, so wait for a nice entry on the pullback and enjoy nice ride to $47-$48 on it today

6) $AMBA  Pacific Crest positive Read on GPRO Q4 results Keeps $70PT (48.59)  DAY TRADE ONLY
Stock gapping up +$1.00 I like to see this pop at open a little to $50+ area then eye a nice topping on it then look to fade this back on gap fill back to $48.70 or under then scale in LONG for an all day slow move back to highs, just wait for it to set up

7)  $MRCY  Nice Earnings Raises Guidance and Revenue Guidance Both positive for the stock (31.44)  DAY TRADE ONLY
Stock gapping up +$3.00 2 ways to play this, I like to see a quick possibly pop to $35+ at open on short squeeze then look for topping on it then gap fill it on profit taking back down to $32.50 or under then scale in long, wait for it to set up if this pulls at open to same area then go LONG on it

8) $SIMO  issues downside guidance (43.34)  DAY TRADE ONLY
Stock gapping down -.80 I like to see this sell off right at the open not much risk here taking short at $42.49 area add on ANY pop at open then look for an all day fader on this to $40 or under, IF this pulls right at open look to play the bounce off that $40 Level

9) ***$RMD  Nice Earnings BUT…Not blow-out to justify this HUGE Gap up (63.60)
Stock gapping up +$6 I think this is up way to much so let it squeeze a little more at the open we need to watch this top off then scale in SHORT for a nice fade on this back to $65 and under. If this doesn’t give out today, let it climb build a nice SHORT position then we nail the fade tomorrow for major points, but today I think we get some. If this pulls at open chase a few to $65

10) ****$IDXG  adoption of the ThyGenX test (4.00)
Stock Gapping up +.70 I like to see this pop at open on short covering then look to sell off and fill the gap back to $4.20 or under, think this news is truly all fluff but this is a former runner and can get going so watch for Spartan to call this one out as he sees fit

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Notable Calls:

$CLRB  Twitter Pump + Stupid news on Patent Covering Method (STUPID) (1.38)  Everyone thinks this is news, watch for crazy pop at open possibly thru $2 then watch for topping imo this should come right back down to $1.45 or under. News is pretty this to say the least

$YHOO Nice earnings plus VZ closing soon (42.40) Gapping up +$1.30 YHOO tends to sell off and fill their gaps so watch for a nice pop outta of the gate then all day slow slow slow fade back to $42.50 and under, if this pulls at open to same area then look to go long off bottom

$BABA  Great Earnings watch fro profit taking to kick in and pullback 1-2bucks off the highs BABA tends to sell off their gaps before leg up and a lot of investors bought into this move a month ago imo

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